NEW YORK (MarketWatch) — The 10-year Treasury yield recorded its largest one-week gain since June 2013 Friday, snapping five weeks of declines after the Labor Department’s nonfarm payrolls report for January came in stronger than expected.

The 10-year yield
TMUBMUSD10Y, -0.18%
closed at 1.946%, its highest level in four weeks, according to Tradeweb data. The 10-year added 13.1 basis points for the largest one-day yield gain since November 2013.

Bond yields move inversely to prices, rising as prices fall.

According to Labor Department data, hourly wage growth for January came in above analyst expectations with 0.5% growth in January, after recording the largest percentage drop since 2006 in December.

After last month’s report, analysts speculated that the weak wage-growth number could cause the Federal Reserve to delay its first interest-rate increase in eight years.

January’s report was one of the rosiest in recent memory, with the average number of new jobs created according to the past three monthly reports rising to 336,000, the highest level since 1997. The Labor Department said 257,000 new jobs were created in January. Economists polled by MarketWatch had expected 230,000 new jobs.

“This is an unambiguously strong number [that] puts the Fed on the radar for the hike sooner than we anticipated for sure. There are no hidden nuances or subtleties, and we can even point to a gain in [the unemployment rate] as a function of higher participation which is a bullish sign for the economy,” said David Ader, head of government bond strategy at CRT Capital Group LLC.

Analysts now expect the Fed to move around the middle of 2015.

Comments from Fed officials have added credence to the notion of a midyear rate increase. Philadelphia Fed President Charles Plosser, on CNBC Friday, said it’s hard to justify not raising interest rates. Plosser is retiring from the Fed on March 1.

Treasurys continued to move higher after Standard & Poor’s Ratings Services cut Greece’s sovereign debt rating one notch further into junk territory, stoking demand for “safe” assets like U.S. Treasurys.

The yield on the two-year
TMUBMUSD02Y, +0.05%
Treasury rose 12.8 basis points to 0.648%, its highest level in a month.

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